Gold Fields halts work at US$1.9bn Windfall project in Quebec

Gold Fields has suspended underground development at its Windfall gold project in Quebec following the expiration of an exploration-work permit at the end of August. The company is currently awaiting separate environmental approval from the Quebec government for full project development, a milestone it originally expected in June but now hopes to secure by the end of 2026.

The Windfall project, located in the Abitibi greenstone belt, is a central component of Gold Fields’ strategy to build long-life assets outside its mature operations. The company recently gained full control of the site through its C$2.16bn acquisition of Osisko Mining. The project has an estimated development expenditure of approximately US$1.9bn and is expected to produce about 300,000 ounces of gold annually once production begins, which is currently targeted for 2029.